spot_img
28.6 C
Philippines
Friday, March 29, 2024

Ayala Land selling new P50-b bonds

- Advertisement -

Ayala Land Inc. said it plans to file for another three-year P50-billion bond shelf registration with the Securities and Exchange Commission.

Ayala Land chief finance officer Augusto Bengzon in a press briefing said the fresh bond shelf registration program would replenish its bond shelf registration program approved by SEC in 2019, which only has P12.75 billion worth of bonds unissued.

Ayala Land this year plans to raise up to P41 billion through the issuance of retail bonds or corporate notes for listing on Philippine Dealing & Exchange Corp..

Bengzon said the company would use proceeds from the planned borrowings to refinance high-interest rate loans.

“We are actively pre terminating high cost debts and replace it with lower cost debts to take advantage of low interest rate environment,” Bengzon said.

- Advertisement -

Bengzon said the company initially planned to offer P6.25 billion worth of four-year bonds over the next few months.

- Advertisement -

LATEST NEWS

Popular Articles